How to know if you are in a credit bureau and how does it affect you?

During your life, banks and different service companies will offer you financial products where you can make the decision to accept them or not.

Compliance with payments of products such as: credit cards; automotive, mortgage and revolving service credits; cell phone and television plans; etc. they will mark the future of your financial life to be seen with good eyes before these economic organizations. If you fail to comply with one of these commitments, you will be immediately reported to the credit bureau in Guatemala.

 

What is the credit bureau?

What is the credit bureau?

The credit bureau is a private company that has no relationship with the country’s banks. Its mission is to collect and provide relevant information about the credit history of a specific person to companies with which it has an agreement.

The companies that request this information are: banks, commercial establishments, telephone and television companies.

 

How to know if you are in a credit bureau and have a negative report?

If you want to check your credit history, you must present yourself at the Public Information Unit of the Superintendency of Banks (SIB). You must register to verify your identity.  

After this you can enter via internet to request a report. When they verify your identity, they will send you a user via e-mail so you can check your financial report online as many times as you deem necessary.

 

What is the information kept by a credit bureau?

How to know if you are in a credit bureau and have a negative report?

In addition to finding data such as name, addresses, telephone numbers and date of birth; The credit bureau records:

  • Total credit balance
  • Total debt jump
  • Payment behavior
  • Last payment made
  • Price of the last payment made
  • Payment delay time
  • Date on which it was paid on time

What does the rating that appears in your financial record mean?

Classification

Payment situation of the financial product

TO

0 to 1 month past due

B

1 to 3 months past due

C

3 to 6 months past due

D

6 to 12 months past due

AND

More than 12 months of default

 

 

Why are you on a credit bureau list?

What is the information kept by a credit bureau?

There is no good or bad reason to be on the list. Your presence in this national inventory will depend on whether at any time in your life you requested:

  • Credit cards
  • Bank credits

Can people or companies check your credit bureau?

The data registered in the credit bureau are private and no company can access your information unless you sign an authorization to do so.

 

Could the credit bureau deny you any financial service?

Can people or companies check your credit bureau?

The only function of the credit bureau is to process and store people’s financial information. The entities that request this information will make the decision to provide the services you want.

 

Can you pay to erase your credit bureau reports?

The answer is no. You definitely cannot pay an entity or a person to withdraw the negative reports you may have in a private entity. The only way to erase or withdraw your negative reports is to meet your debt payments.

If you liked the content of this article and want to know a little more about finance, here you can take this financial education test so that you know what your economy says about you.

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